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BEIJING, June 10 (Xinhua) -- China's foreign exchange regulator said Thursday it will strengthen monitoring of cross-border capital flows to reduce risk.The regulator will keep a close watch on the economic and financial situation home and abroad this year, the State Administration of Foreign Exchange (SAFE) said in its annual report on management of foreign exchange posted on its website.It will also enhance its monitoring of abnormal cross-border capital flows by cracking down on illegal private banks and internet-based speculation in foreign exchange.The SAFE will maintain a prudent approach to managing foreign currency reserves and will continue to improve its diversification strategy.China's balance of payments continue to expand, albeit slowly, despite the impact of the global financial crisis.At the end of 2009, China's foreign exchange reserves hit 2.4 trillion U.S. dollars, a 453 billion U.S. dollar increase from the end of 2008.China had gold reserves of 1,054 tonnes at the end of last year, the fifth largest in the world.Although gold has commodity and monetary properties, the global gold market is relatively small and illiquid, the report noted, adding that because of its volatile price and high cost of holding and trading, gold has limited utility in asset allocation.
BEIJING, July 1 (Xinhua) -- Chinese Vice President Xi Jinping on Thursday urged members and officials of the Communist Party of China (CPC) to emulate the achievements of an official who died on duty after six years of dedicated work as a village Party secretary.Xi made the statement in Beijing while meeting with attendants to a ceremony to mark the release of a movie about the Party secretary's life in the village, and that of a book based on his diaries.The official, Shen Hao, had been a provincial government official in Anhui in central China, but was later assigned as a village Party secretary in 2004.Shen's devotion to his job brought about significant changes in the village and twice his term was extended at the request of the people in the village, though the work eventually cost him his life. He fell ill through constant overwork and died on November 6, 2009.Xi hailed Shen as a role model for CPC members and officials and urged them to maintain close ties with the people.

BEIJING, Aug. 11 (Xinhua) -- China's Ministry of Health has said it will draw upon its experience from the H1N1 flu control to ensure prevention of the general flu, as the World Health Organization (WHO) announced plans for the post-pandemic period."Based on the experience from A/H1N1 prevention and control, we will revise emergency plans and will continue flu prevention efforts in a bid to ensure people's health," said a statement released late Tuesday by the ministry.Figures from the ministry show that the weekly new A/H1N1 cases have remained below 30 since mid-April. Further, no deaths have been reported for 12 consecutive weeks.While announcing the coming of the post-pandemic period, WHO Director-General Margaret Chan warned that the A/H1N1 virus will continue to spread as a seasonal flu for some years.Chan urged health authorities to maintain alert for the virus.So far, about 800 deaths from A/H1N1 influenza had been reported in China, Health Minister Chen Zhu said earlier.More than 100 million Chinese have been vaccinated against A/H1N1 flu as of May 14.The A/H1N1 virus was first identified in Mexico in April 2009. More than 211 countries and regions have reported laboratory confirmed cases of the flu, including more than 18,000 deaths.
BEIJING, Aug. 19 (Xinhua) -- Chinese Vice Premier Li Keqiang has urged food quality authorities to strengthen supervision in order to significantly improve food safety.Li, who also chairs a national food safety commission, made the remarks at a recent conference of the commission.He further called for efforts to optimize the supervision and accountability system for food safety, which would be made up of local governments, food companies and other related government departments.Authorities must constantly crackdown on unsafe food, with specific operations to uncover and destroy "problem milk powder" .Chinese Vice Premier Li Keqiang (2nd L, back) presides over a plenary meeting of the food safety commission under the State Council in Beijing, capital of China, Aug. 16, 2010.The government would hold accountable related officials in areas recording repeated food safety incidents and those who committed dereliction of duty in food safety supervision, he said.A long-term mechanism must be formed to ensure the safety of "major products" such as diary products and edible oil, he said.At the conference, senior officials from the health ministry and other central departments described the ongoing work of uncovering "problem milk powder" and the plans to establish a long-term mechanism to ensure the safety of diary products.The establishment of the commission early this year followed a string of nationwide crackdowns and arrests in the wake of new melamine-tainted milk products being found in Shanghai as well as Liaoning, Shandong and Shaanxi in recent months.The melamine milk scandal occurred in 2008. Milk laced with melamine led to the deaths of six babies and sickened 300,000 others who had been fed with baby formula made from tainted milk.
BEIJING, Aug. 4 (Xinhuanet) -- Rising domestic iron ore production and slowing steel demand have hit some foreign miners and affected the global market, industry leaders said on Tuesday.China's iron ore imports dropped for the third straight month to 47.2 million tons in June, while spot prices have dropped to about 2 per ton after peaking at 5 per ton in April.The country's iron ore imports rose 4 percent year-on-year in the first half of this year, figures from the China Iron & Steel Association (CISA) showed. But domestic ore output increased by 28 percent year-on-year to 485 million tons in the same period, with output rising 37.6 percent in the second quarter from the first quarter."Rising domestic ore production is the main factor that drove down imports, largely impacting supply and demand on the global market," CISA vice-chairman Luo Bingsheng said.The figures form part of the bad news for international mining companies in Australia and Brazil that provide more than half of the ores to China.Iron ore imports from Australia, Brazil and India accounted for 62.3 percent of the country's total ore consumption last year.Brazilian company Vale already predicted in June that the share of imported ores in China would drop this year.About 40 percent of Chinese steel mills have to make cutbacks or put plants on maintenance, blaming increasing costs of imported ores and declining steel prices. Oversupply in the industry will continue to lower production, further driving down ore imports in the third quarter, Luo said.The CISA will also reduce the number of licensed iron ore importers to regulate the imported ore market."We will announce new rules for the industry soon, which include higher standards on the environment, energy consumption and capital requirement," Luo said.
来源:资阳报